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HARARE, November 29 (The Source) – The value of transactions processed through the National Payment System (NPS) for the week ending November 17 went up nine percent to $2 billion from $1,8 billion recorded in the previous week driven by an increase in electronic transactions.… Read More

HARARE, October 9 (The Source) – Zimbabwe’s annual broad money supply recorded a 29,61 percent growth in July to $6,56 billion, driven by an increase in deposits, latest data from the central bank has shown.

VICTORIA FALLS, September 28 (The Source) – Reserve Bank of Zimbabwe deputy governor Kupukile Mlambo has proposed that the country introduces more bond coins than notes into the local market to curb high circulation of bond notes in the informal market. Unlike the bond notes,… Read More

HARARE, September 26 (The Source) – Shortages of cooking oil in Zimbabwe are imminent following a cut in foreign currency allocations to manufacturers by the central bank. The Reserve Bank of Zimbabwe (RBZ) tightly controls foreign currency which is in short in the southern… Read More

HARARE, August 31 (The Source) – Zimplats’ profit in the year ended 30 June 2017 increased to $45,53 million compared to $7,32 million in 2016, boosted largely by a total of $34,8 million realised from export incentives and disposal of treasury bills from the Reserve… Read More

VICTORIA FALLS, June 29 (The Source) -Zimbabwe’s power utility says the country’s farmers are reluctant to pay for electricity and have accrued $180 million in unpaid bills since 2013. Zimbabwe Electricity Supply Authority (ZESA) which has been struggling to recover over $1 billion in unpaid… Read More

HARARE, May 3 (The Source) – Zimbabwe’s central bank is offering a 5 percent reward to whistleblowers reporting on individuals, traders and firms hoarding, selling or illicitly funneling cash out of the country, governor John Mangudya announced on Wednesday. The southern African country, which adopted… Read More

HARARE, May 3 (The Source) – Zimbabwe’s central bank says the country has reduced its foreign payments backlog by more than 50 percent to $185 million, largely due to forex flows from ongoing tobacco sales and improved dollar deposits. Businesses, especially manufacturers and mines, have… Read More

HARARE, March 9 (The Source) – Zimbabwe’s government has appointed a man to chair its Women’s Bank, which is being set up to support female entrepreneurs. The launch of the bank, initially slated to coincide with International Women’s Day celebrations on Wednesday, has now been… Read More

HARARE, December 15 (The Source) – The value of transactions processed on Zimbabwe’s National Payment System (NPS) increased from $1,2 billion to $1,5 billion as the volume of transactions went up by 13 percent in the week the Reserve Bank of Zimbabwe (RBZ) introduced bond… Read More

HARARE, December 12 (The Source) – The Reserve Bank of Zimbabwe (RBZ) has ordered a reduction in bank withdrawal fees, which will see the charges come down to a maximum of 1 percent and 1.25 percent of amount withdrawn for ATM and over-the counter transactions,… Read More

HARARE, December 7 (The Source) – Zimbabwe’s central bank says it will release $7 million worth of $2 dollar bond notes into circulation this week. The notes, which are meant to ease a banknote shortage in the southern African nation, trade at par with the… Read More

HARARE, November 28 (The Source) – The Reserve Bank of Zimbabwe (RBZ) says it has fined the state-owned People’s Own Savings Bank (POSB) $500,000 — the equivalent of 6 percent of its 2015 net profit — after the bank’s employees leaked images of bond notes… Read More

​HARARE, November 26 (The Source) – Zimbabwe’s central bank says bond notes, a token currency which will circulate within a basket of multiple currencies, will be introduced on Monday. “The bond notes will be released into the market through normal banking channels in small denominations of… Read More